Corrected: Germany's investor confidence soars in March

13 March 2012 13:11  [Source: ICIS news]

Correction: In the ICIS story headlined "Germany's investor confidence soars in March" dated 13 March 2012, please read in the second paragraph ...rose by 16.9 points from February to 22.3 points in March... instead of ...jumped to 22.3 points in March, from 16.9 points in February... A corrected story follows.

LONDON (ICIS)--Germany’s investor confidence rose for the fourth time in a row to hit a 21-month high in March amid signs that the eurozone debt crisis may be easing somewhat, a research group said on Tuesday.

The Mannheim-based ZEW Centre for European Economic Research said its monthly investor confidence indicator rose by 16.9 points from February to 22.3 points in March. The index is based on survey responses from 285 financial market analysts.

Germany’s relatively strong productive output in January, including an increase in industrial production, seemed to have convinced analysts that “recently reduced growth dynamics will not seriously affect the overall robust business activity in Germany,” the institute said.

ZEW president Wolfgang Franz added: “Currently, it seems as if the crisis in the eurozone has taken a pause for breath.”

At the same time, domestic demand in Germany is likely to continue to stimulate growth, Franz said.

Nevertheless, risks remained because of low business activity in important European countries and disruptions in the banking sector, he said.

Economists have said that Germany’s economy is likely to show no growth in the first quarter of 2012 compared with the fourth quarter of 2011.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy blog

By: Stefan Baumgarten
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